From cemeteries to amusement parks, production lines to surgical suiters, millions of jobs remain unfilled. Competition for workers is fierce. An unprecedented, but not unexpected, post-pandemic labor shortage is forcing many businesses to cut back on hours and curtail services. Unable to hire enough workers, some manufacturers are missing production deadlines and construction companies are turning away business. What are the chances that the labor markets adjust? Future of work global thought leader Ira S Wolfe suggests "not likely."
According to Wolfe, "The Perfect Labor Storm has arrived." He forecasted these unprecedented shortages of skilled workers as far back as 1999, followed by the publication of two editions of "The Perfect Labor Storm" in 2004 and 2007. Much like climate change advocates. Wolfe has faced his fair share of critics and deniers over the years. Today, he feels both relief and frustration: relief, knowing he was right but frustrated that more businesses, communities, and even parents didn't heed his advice.
During a recent episode of his Geeks Geezers Googlization TV Show and podcast, Wolfe outlined several reasons for the labor shortages:
"Unfortunately, the solution isn't as simple as more pay, better benefits, and hybrid work. It is all of them and much, much more. Quite simply, demand for skilled workers is up and supply is down and there isn't an easy fix to the supply problem. Skilled workers don't grow on trees. The labor participation ratio has been falling for decades. Baby Boomers are retiring en masse and the skills required to do most jobs are much more advanced than ever before. You just can't go out to a people farm and harvest more skilled workers. You need to grow and nurture talent and that takes better education, retraining, and upskilling for workers and better management and leadership in companies."
To watch Wolfe's segment on the Perfect Labor Storm, click here. Wolfe is a frequent guest on podcasts and other media discussing his most recent book Recruiting in the Age of Googlization. VUCA. and the future of work. In the upcoming weeks, he will be speaking at SHRM Talent Conference, SHRM Annual Conference, Indiana SHRM, and HR Southwest on Recruiting in the Age of Googlization and Adaptability in a FCDD*-up World (*Frustrating-Confusing-Disappointing-Distracting).
To schedule Wolfe for interviews or speaking at your next meeting and conference, call 484-373-4300 or visit https://successperformancesolutions.com.
About Success Performance Solutions
Since 1996, Success Performance Solutions has established itself as an HR leader in pre-hire and leadership assessment, respected by both clients and peers. Its portfolio of testing includes administrative and technical skill testing, DISC behavioral profile, personality job fit, cognitive testing, emotional intelligence, and adaptability quotient.
About Ira S Wolfe
Ira S Wolfe is a “Millennial trapped in a Baby Boomer body” and the world’s first Chief Googlization Officer. He is president of Poised for the Future Company, founder of Success Performance Solutions, a TEDx Speaker, host of Geeks Geezers Googlization podcast, and frequent presenter at SHRM and business conferences. Ira is also recognized as one of the Top 5 Global Thought Leaders and Influencers on Future of Work and HR by Thinkers360. His most recent book is Recruiting in the Age of Googlization, now in its 2nd edition, is recognized by multiple organizations as one of the top Business, HR and Recruiting books to read in 2021. He is also the founder of the Googlization Nation community and a frequent contributor to HR and business blogs, including Cornerstone's OnDemand and Medium.